What Is a Lender’s Independent Monitoring Surveyor (IMS) / Bank Surveyor and Why You Need One
If you’re a lender, broker or developer involved in a construction project, appointing a Lender’s Independent Monitoring Surveyor (IMS), also known as Bank Monitoring Surveyor of Fund Monitoring Surveyor is essential. Acting as the eyes and ears of the funder, the IMS helps manage risk, monitor progress and protect the financial investment throughout the development.
At ONFORM, we provide tailored IMS services for lenders and borrowers across Bournemouth, Poole, Christchurch, Dorset, Hampshire, Wiltshire, Berkshire, Surrey, London and the surrounding areas. Whether you’re funding a new build, conversion or multi-unit scheme, we provide clear, independent reporting at every stage.
What Does an IMS Do?
A Lender’s Independent Monitoring Surveyor is appointed to assess and report on:
Construction progress
Programme and cost performance
Contractual and planning compliance
Risks to successful delivery or repayment
Recommendations around fund drawdowns
The IMS works independently from the developer or contractor, giving lenders impartial insight and reassurance.
How the IMS Process Works
1. Initial Review (Pre-Funding Due Diligence)
Before the first drawdown, we review:
Planning consents and statutory approvals
Development appraisal and cost plans
Build contracts and procurement approach
Programme viability and risk profile
Insurances and warranty arrangements
Statutory and legal obligations such as S106, CIL, Party Wall, Listed Status etc.
This culminates in an Initial Report outlining any risks or red flags and confirming whether the development is ready for funding.
2. Ongoing Site Monitoring and Drawdown Reporting
Once the project is live, we carry out regular site inspections aligned with the drawdown schedule. Each Interim Report includes:
Works completed to date
Contractor performance and quality
Updated cost-to-complete
Confirmation of drawdown eligibility
Any delays, scope changes or issues
Statutory and legal obligation compliance
We focus on practical, solution-led advice so lenders can make informed, low-risk funding decisions.
3. Completion and Final Sign-Off
At the end of the project, we:
Verify works are completed in line with approvals
Review statutory sign-offs and warranties
Confirm final costs and settle the reporting process
This final sign-off supports the release of retained funds and confirms the project has been delivered as agreed.
What Information Do We Review?
To provide a robust assessment, we typically review:
Cost breakdowns and build contracts (e.g. JCT D&B, Intermediate etc)
Design drawings and specifications
Planning, S106, CIL and Building Control approvals
Professional appointments and warranties
CDM & Building Safety Act compliance, Party Wall awards and insurance
Development appraisal and funding structure
Our reports are concise, risk-focused and tailored to the lender’s requirements.
Why Appoint ONFORM as Your IMS?
We bring technical expertise, real-world project experience and commercial understanding. Our IMS service is:
Independent and RICS-compliant
Practical, responsive and tailored to the project
Trusted by both lenders and developers for clarity and consistency
Aligned with funding structures and drawdown cycles
We act quickly, report clearly and focus on reducing your exposure without overcomplicating the process.
Tips for a Smoother Monitoring Process
For Lenders:
Appoint the IMS early, ideally before contracts are signed
Ensure the borrower provides complete project documentation
Use the IMS proactively to flag risks and guide decisions
Ensure the IMS is experienced and preferably has hands on building experience
For Developers:
Provide accurate, broken-down cost plans
Book site inspections in good time
Maintain open communication throughout the project
Avoid major design or scope changes without lender and IMS approval
Appoint an experienced Project Manager, Employer’s Agent or Contract Administrator
A collaborative approach leads to faster drawdowns, clearer reporting and fewer issues during the build.
Types of Projects We Monitor
We act as Monitoring Surveyor on a wide range of projects across residential, commercial and mixed-use development. Examples include:
New Build Residential Schemes
Single dwellings, small developments and larger multi-unit sites. We review design, ground conditions, programme and contractor capacity in detail before recommending funding release.
Commercial to Residential Conversions
Including office-to-resi under permitted development. We assess buildability, compliance risks, acoustic and thermal upgrades, EPC, fire strategy and ensure accurate cost tracking during structural and fit-out phases.
Luxury Refurbishments and One-Off Homes
High-spec builds often carry premium risks. We monitor scope changes, cost escalation and completion timelines carefully to ensure funding stays aligned.
Mixed-Use and Commercial Developments
Retail, office or hospitality schemes with residential above or adjacent. We review the procurement route, tenant delivery obligations and statutory approvals across multiple uses.
Need a Monitoring Surveyor in Bournemouth, Poole, Christchurch, Dorset, Wiltshire, Hampshire, Berkshire, Surrey, London and the surrounding areas?
Whether you're funding a small scheme or a large development, ONFORM provides reliable, independent monitoring for lenders across the South of England.